Vardhamaan Success Story - Doorstep Banking

Success Story Vardhaman Credit Cooperative Society – Improving Access to Finance with FinCraft™ Door - Step Banking

Client Vardhaman Credit Cooperative Society

Profile Vardhaman Credit Cooperative Society (Vardhaman Nagari Sahakari Pathasanstha Ltd.) is one of the leading Small Credit Organization in Rural India.

Scope of Engagement The Project Scope included the implementation of following surround solutions and Delivery Channels:  Door Step Banking(DSB) application for tab/mobile (Native app)  DSB middleware application for fixed location agents and branches

The Challenge

 Outdated Legacy Solution  Higher TAT of operations: Fund Collection  Delayed realization of investment made  The practices internally like real-time GL updating, EOD/SOD process are not standardized  Decentralization of data and Risks in Regulatory Compliance

Key Highlights

 Business Process Management of Client through consulting and solution (Core Solution and Mobility Based Door Step Solution)  Migration of Data from Legacy System  Implementation in 12 Branches in 10 Weeks  Implementation of Payroll, Share Accounting and Investment Modules in Head Office  Build Data Center and Integration with SMS Service Provider

Benefits

 70 agents appointed each with Tablet  100-150 No. of Pigmy Collection Per Agent Per Day, INR 50,000 Per Agent Per Day  2 Minute Per Transaction Processing Time  Paper Less Receipt delivery on SMS to customer  Better Control and Monitoring

About Vardhaman Vardhaman Nagari Sahakari Pathasanstha Ltd. Was established to bring a change in standard of living of a common man, through the cooperation. Recently, institute has completed 18 years now. Major highlights of the institute is 0% NPA indicates the successful financial journey of the institution.

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